India's Shift to a Circular Economy Accelerates with AIM and HUL Collaboration

The Atal Innovation Mission at NITI Aayog and Hindustan Unilever Limited are propelling India's move toward a circular economy by supporting 50 start-ups over three years. The initiative will focus initially on plastic waste while addressing textile and electronic waste solutions nationwide.

In a landmark collaboration, the Atal Innovation Mission (AIM) at NITI Aayog and Hindustan Unilever Limited (HUL) have launched a significant initiative to propel India toward a circular economy. This effort is part of HUL's Project Circular Bharat, which aims to identify and support 50 promising start-ups over the next three years, emphasizing sustainable solutions to waste management. According to a release from NITI Aayog, this partnership is set to transform waste management strategies across the nation.

The initiative initially focuses on tackling plastic waste, seeking innovations in recycling, reuse, and packaging materials. Beyond plastics, the program extends its support to solutions addressing textile and electronic waste. Selected start-ups will benefit from mentorship by business leaders, policy experts, and investors, courtesy of AIM, HUL, and Xynteo. Grants and market-testing opportunities may also be available for some start-ups. By harnessing AIM's policy framework, HUL's industry insights, and Xynteo's strategic guidance, the program accelerates the growth of impactful sustainability solutions.

BP Biddappa, HUL's Executive Director and Chief People, Transformation and Sustainability Officer, emphasized the critical synergy between government and industry to tackle major waste issues. He stated, 'This partnership marks a vital step in establishing a circular economy for plastics in India.' Deepak Bagla, AIM's Mission Director, pointed out that the collaboration aligns with India's ethos of sustainable growth, echoing the Prime Minister's commitment to responsible development. By enabling start-ups to innovate resource usage, the initiative aspires to reduce waste and foster the green industries of the future.

(With inputs from agencies.)